Articles in category: BoardNews

As boardroom bust-ups go, the one at Velocity Composites is shaping up to be as nasty as it gets. On Friday, the aviation supplier’s founders wrote to executive chairman Mark Mills via their lawyers demanding he and his board members resign today...

(Bloomberg) -- BlackRock Inc. isn’t buying excuses from companies that say they can’t find women to fill diverse slots on boards. The world’s biggest asset manager earlier this year sent letters to companies in the Russell 1000 index with fewer than two women on their boards, asking them to explain their lack of progress. Some of the responses were surprising, said Michelle Edkins, the firm’s global head of stewardship...

LifePoint Health's board of directors is plowing ahead with a $120 million golden parachute plan for four top executives ahead of the company's sale, despite overwhelming opposition from shareholders.The board itself, which will disband when the deal goes through, is getting more than $11.3 million, not counting the company's chairman and CEO's take, as part of the sale.The payouts are raising eyebrows in the investment community given they total more than the company's 2017 net income. Analysts, attorneys and others who follow the industry say the ...

McKesson Corp. said its longtime Chairman and Chief Executive John H. Hammergren will retire next year, capping a 17-year reign in which he helped build one of the country's largest pharmaceutical wholesalers despite weathering shareholder criticism over his compensation and handling of the opioid crisis. Mr. Hammergren, 59 years old, will step down April 1 of next year and will be succeeded as CEO by Brian Tyler, the company's current president and chief operating officer...

(Bloomberg) -- Dan Loeb’s Third Point posted losses in its funds last month, joining an array of firms that struggled in October’s market rout. The Third Point Offshore Fund dropped 6.9 percent last month, bringing its loss this year to 6.3 percent, according to an investor letter seen by Bloomberg News. The firm’s Third Point Partners LP fund also fell by a similar magnitude, bringing its loss for the year to 5.9 percent...

(Reuters) - Activist investor Carl Icahn sued Dell Technologies on Thursday, alleging that the computer maker did not disclose financial information related to its plans to go public by buying back its tracking stock...

Barclays is lining up a veteran of the Rothschild banking dynasty as its next chairman, an appointment that would transfer one of the plum jobs in British business during a period of growing pressure from an activist shareholder. Sky News can exclusively reveal that Nigel Higgins, who is the deputy chairman of Rothschild‎ & Co, has been identified by Barclays' board as the frontrunner to succeed John McFarlane following a six-month search...

A New York-based activist hedge fund has taken a stake in Deutsche Bank AG, betting the German lender's new chief executive can revive its sagging profits by pursuing a turnaround strategy investors so far have found unconvincing. Hudson Executive Capital LP, led by former JPMorgan Chase & Co. finance chief Douglas Braunstein, said it has built about a 3.1% stake in Deutsche Bank common shares...

The percentage of women on the boards of technology firms has not changed for the last 20 years, with the gap between men and women on boards growing Business Editor Follow: The percentage of women recruited to tech company boards has remained relatively unchanged over the past 20 years, according to a report by Tech Nation...

SYDNEY -- BHP Billiton Ltd., the world's biggest mining company by market value, said it would return $10.4 billion to shareholders via a stock buyback and special dividend. The move comes after completing the sale of its U.S. onshore oil and natural gas assets. BHP -- which has faced pressure from activist investor Elliott Management Corp. to improve returns -- said the latest outlays would bring the total cash handed back to shareholders over the past two years to $21 billion...

MidSouth Bancorp, Inc. ("MidSouth") (NYSE: MSL) today announced it has reached agreements with Basswood Capital Management ("Basswood"), its largest shareholder, and Jacobs Asset Management, LLC ("JAM"), its third largest shareholder...

(Bloomberg) -- Activist investor Jonathan Litt may put forth a slate of directors for Mack-Cali Realty Corp.’s board because he continues to believe the company is refusing to engage with a potential buyer, according to people familiar with the matter...

In September 2018, Jerry Brown, Governor of California, signed a law that requires public companies with headquarters in California to have at least one woman on their Board of Directors by the end of 2019...

Shares of Rite Aid, the Camp Hill, Pa. -based drugstore chain, rose 3 cents to $1.08 in trading Tuesday after 84 percent of shareholders voted against the company's proposed executive pay package including a $3 million bonus for chief executive John T. Standley , according to the International Brotherhood of Teamsters labor union, which represents some Rite Aid workers and holds shares in the struggling company...

General Electric i s cutting its dividend for the third time in a decade, a move that will save $3.9 billion a year, as new Chief Executive Officer Lawrence Culp works to restore the conglomerate's fortunes after a large, ill-timed expansion in its power business...